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JOHANNESBURG – Communications and Technology firm Ayo Technologies has listed on the Johannesburg Stock Exchange(JSE).
The company’s shares were oversubscribed in December after a private placement, with offers worth R5,3-billion.
The company is a division of African Equity Empowerment Investments and has a R14-billion market capitalisation.
Ayo Technology Solutions is a majority black-owned ICT company, which is at least 30 percent women-owned.
AEEI will own some 49 percent.
Ayo has a 25 percent market share of technology contracts in the public hospital sector and manages the National Health Laboratory Service.